Beauty Elite Group Owner and CEO Basim Shami Acquires Hair Company

39 VIEWS

FUEL Hair announced today that it has been acquired for an undisclosed sum in private sale by industry leader and Owner and CEO of Beauty Elite Group Basim Shami. With the purchase of FUEL, Basim is adding a new acquisition to his stand-alone prestige beauty company coined Beauty Elite Group. FUEL will contribute to the list of prestige professional beauty acquisitions, including blowpro, facilitated by Business Development Ambassador Kevin O’Connor, that comprise this new beauty entity.

“We’re not stopping here. We are just at the beginning stages of building our company. We will continue to grow and look for other acquisitions and licensed brand properties in hair as well as cosmetics in 2017,” says Basim.

Under Basim’s ownership, FUEL will continue to maintain its DNA as a professional, prestigious brand offering the most innovative formulations sold exclusively through salon distributors. The new team will continue to offer and expand its core education and curriculum training.

Basim has also closed a new venture deal with his blowpro brand and Kim Nimsgern, the creator of Click n Curl and CEO of Casual Panache Inc.

Kim and Basim will launch a co-brand salon professional line for sale in the U.S. in 2017. The new brand will have upgraded features designed for stylists including heat sensor capabilities. “Given Basim’s 30+ years of experience within the beauty space, I am comfortable with him and his team at Beauty Elite Group to take my brand’s name to the next level and create an impactful presence for Click n Curl in the salon world,” says Kim.